Global Retirement Partners LLC Makes New Investment in Axon Enterprise, Inc $AXON

Global Retirement Partners LLC purchased a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON) during the second quarter, HoldingsChannel.com reports. The fund purchased 1,726 shares of the biotechnology company’s stock, valued at approximately $968,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Edgewood Management LLC acquired a new stake in shares of Axon Enterprise in the 4th quarter worth $846,516,000. Wellington Management Group LLP increased its position in Axon Enterprise by 326.9% during the 4th quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company’s stock valued at $874,463,000 after buying an additional 1,179,038 shares in the last quarter. Norges Bank acquired a new position in Axon Enterprise during the 4th quarter valued at about $515,764,000. Styrax Capital LP acquired a new position in Axon Enterprise during the 1st quarter valued at about $84,938,000. Finally, Sands Capital Management LLC raised its stake in Axon Enterprise by 11.6% in the fourth quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company’s stock valued at $914,047,000 after buying an additional 167,095 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Stock Performance

Shares of AXON stock opened at $619.85 on Wednesday. The business has a fifty day moving average of $532.07 and a 200 day moving average of $473.93. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $794.29. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80. The firm has a market capitalization of $50.36 billion, a price-to-earnings ratio of 257.20, a price-to-earnings-growth ratio of 9.95 and a beta of 1.39.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.04. The business had revenue of $904.39 million for the quarter, compared to the consensus estimate of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The company’s quarterly revenue was up 35.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.12 EPS. As a group, research analysts expect that Axon Enterprise, Inc will post 2.04 earnings per share for the current year.

Insider Activity

In related news, insider Elizabeth Reid Coughlin sold 1,554 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $485.00, for a total value of $753,690.00. Following the sale, the insider owned 34,024 shares in the company, valued at $16,501,640. This represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Joshua Isner sold 13,000 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the completion of the transaction, the president owned 169,125 shares in the company, valued at approximately $82,609,106.25. This trade represents a 7.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 68,989 shares of company stock valued at $36,016,932. 4.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AXON shares. Needham & Company LLC reissued a “buy” rating on shares of Axon Enterprise in a report on Thursday, August 6th. Piper Sandler upped their price objective on shares of Axon Enterprise from $724.00 to $732.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $715.00 price objective on shares of Axon Enterprise in a research report on Thursday, August 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Axon Enterprise in a research note on Wednesday, August 5th. Finally, Citizens Jmp reissued a “market outperform” rating and set a $700.00 target price on shares of Axon Enterprise in a research report on Thursday, June 25th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $730.92.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.